الخميس, 28 تشرين1/أكتوير 2021 17:25

Democrats Have a New Way to Tax the Rich

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Democrats are desperately looking for ways to pay for their pending spending packages and they just found a new way, taxes on unrealized capital gains. The new tax was introduced by Senator Ron Wyden on the finance committee and will only be applicable to those with over $1 billion in assets or $100 million in annual income. Dems say it's necessary to allow billionaires to just continually avoid paying taxes and accumulate capital while also raising funds. Those opposed see a slew of problems in collection and lots of ways to avoid the tax. Only about 700 Americans would necessarily qualify for the tax.


FINSUM: This is a lot of money, but the amount of oversight funds just to track down billionaires assets will be a major boon to the bottom line for the government.

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